Datto IPO More Good News for Managed Services Industry
In case you missed it, Datto had its initial public offering (IPO) last week, becoming the latest company to list on the New York Stock Exchange. The company’s IPO is yet another positive sign for the managed services industry.
In a year when the pandemic has negatively impacted many industries, the managed services profession has remained resilient. From the rapid transition to remote work to the ongoing strategic and tactical changes many industries are experiencing right now, MSPs are at the heart of this global change caused by COVID-19. The Datto IPO, trading under the symbol “MSP,” is encouraging for all MSPs wondering about the profession’s future in a year overshadowed by pandemic doubt and fear.
RMM vendors like Datto, who principally sell to the MSP community, are significant bellwethers in determining how we are doing. Although the welfare of MSPs is not tied directly to Datto’s daily stock price, having a company directly linked to the managed services ecosystem on the NYSE is a sign of maturity and growth of our profession.
IPOs such as this one loudly broadcast to other private equity firms, investors, and companies the vibrancy and momentum within MSPs worldwide. And, a global profession is precisely what we have.
Datto (and companies similar to Datto) sells to and has a presence in many countries worldwide, interacting with many thousands of MSPs. Each country and geographic region has unique opportunities and challenges, but they all have demonstrated undeniable growth and long-term stability.
Datto is not the only company of its kind. There are many other companies developing tools necessary for the ongoing delivery of managed services across the planet. Each of these companies represents growth, prosperity, and innovation fueling the managed services profession.
Managed services are empowering the global economy. Companies like Datto are part of that ecosystem, and we congratulate them on their success.